Poundland Share Discussion Threads

[abcd1234] 25/6/2016 10:15

the thing is... as we know.... it didnt slump at all...it was down with the post-brexit ftse250 market....it finished the day higher than it was before the 11.53am announcement ...still, .never let the truth get in the way of a headline

[philanderer] 25/6/2016 00:03

MARKET REPORT: Poundland slumps nearly 6% after takeover bid from South African furniture retailer Steinhoff is rejected

"....However, it is thought Steinhoff’s comment could be bluff designed to put pressure on Poundland’s board to come back to the negotiating table."

[philanderer] 24/6/2016 18:03

Mail rerport:

David Stoddart, analyst at Edison Investment Research, thought Steinhoff may yet come back with a sweetened proposal.

He said: ‘Steinhoff's statement gives it the option to come back with a higher offer for Poundland.

‘This will hinge on how they are funding the transaction - if the finance is in sterling, nothing changes, but if not, following today's sharp fall in the pound Steinhoff will enjoy greater room for manoeuvre and we would not be surprised to see it return with a more attractive offer, the cost of which may be mitigated by currency moves.’

Steinhoff – which has not disclosed the level of its proposed cash bid - has until 5pm on July 13 to make a firm bid for Poundland or walk away under City takeover rules


Read more:

[philanderer] 24/6/2016 16:19

Bloomberg:

“It’s sensible for Steinhoff to reconsider their position,” said Mark Hodgson, an analyst at Avior Capital Markets. “I wouldn’t necessarily read that they are walking away. If Poundland’s share price falls further, it could work to their advantage.”

“People don’t bank on big projects when there’s uncertainty,” said Jonathan Pritchard, an analyst at Peel Hunt. It’s too hard to call whether Steinhoff will come with a better offer as the Brexit vote has increased the risk of recession, he said.

Steinhoff bought 22.8 percent of Poundland’s stock for about 119 million pounds earlier this month ahead of a possible all-cash offer. The value of the stake has since declined to 114 million pounds.

Poundland traded at 183.5 pence as of 12:55 p.m. in London, valuing the retailer at 493.1 million pounds. Steinhoff dropped 6.3 percent to 5.07 euros in Frankfurt.

[philanderer] 24/6/2016 16:10

Canaccord out this afternoon reiterating it`s 'buy' and 220p target ( unchanged from 16th june)

[she-ra] 24/6/2016 15:55

Dollar Tree and Dollar General are up in the US. They're up because during bad times deep discount budget retailers thrive during times of economic hardship

[philanderer] 24/6/2016 14:35

The board speak for only just over 5% of the shares. They`re in a very weak position if a hostile bid comes in:

Director

Number of ordinary shares


Darren Shapland 65,000

Jim McCarthy 10,000,000

Kevin O'Byrne 340,000

Nick Hateley 4,254,198

Teresa Colaianni 33,823

Grant Hearn 10,000

Tim Jones 3,500

Miles Roberts 10,918

Mary Barnard 1,822

[abcd1234] 24/6/2016 14:33

price is now back to where it was pre the 11.53am rns

[clocktower] 24/6/2016 14:29

She-ra depends the boards plan of action and what talks they might be in the middle of.

[she-ra] 24/6/2016 14:24

clocktower- There is nothing to stop the board revealing the price they rejected.

[briannewby] 24/6/2016 14:21

...which didn't work out so well for the shareholders

[she-ra] 24/6/2016 14:21

They bought some of that 23% stake when the Leave vote was ahead by large margin.

I think we are being played.

[clocktower] 24/6/2016 14:19

Maybe they just do not want to sell and are looking for someone to tie up with to block the bid in the same way as PFD did.

[she-ra] 24/6/2016 13:56

So do we have a board we can trust?

[maloneyt] 24/6/2016 13:52

To give stainhoff a chance to load up on the cheap imo. Never mind about the shareholders ?????? now sitting on a loss

[she-ra] 24/6/2016 13:41

Anyone would think they don't want the share price to go up. But of course why would they want that???????????????

[sportbilly1976] 24/6/2016 13:39

Reply (unexpectedly quick)

cannot divulge price sensitive information (obviously) and only have call with chaperoned investors

replied by reiterating if the intention of the BoD to disclose?

[she-ra] 24/6/2016 13:32

sportbilly1976 - It seems by not telling us they are only helping Steinhoff like the press have been all along.

[maloneyt] 24/6/2016 13:31

Why they don't tell is now, that they have rejected the cash offer. whatever it was ?

[sportbilly1976] 24/6/2016 13:28

Email sent to Philip Dorgan, head of IR at Poundland asking just that

[she-ra] 24/6/2016 13:20

Why has the BOD not informed us of the price they rejected?

[sportbilly1976] 24/6/2016 13:03

phil,

I most certainly would in their position...pick up as much as possible at these levels

[philanderer] 24/6/2016 13:00

I reckon Steinhoff are in the market this morning picking up cheap stock.

30,000 NT trade @ 186.2194p just printed.

[sportbilly1976] 24/6/2016 12:34

given Steinhoff's purchases, the lowest price it could have been is 205p